NCUF and WOCCU Announce Creation of Donor Fund

Credit Unions Can Now Support International Credit Union Development Via CIF

January 28, 2004

Phone: (608) 395-2000

WOCCU and NCUF announced the creation of the International CIF at the AACUL meeting in Naples, FL. l-r: Gary Officer, NCUF executive director; Chuck Purvis, NCUF chairman; Gary Plank, WOCCU 1st vice chairman and Arthur Arnold, WOCCU president and CEO.

Madison, WI-Madison, WI—The National Credit
Union Foundation (NCUF) and the World Council of
Credit Unions, Inc. (WOCCU) recently signed an
agreement to establish the International
Development Fund (IDF), a donor-designated fund
through the Community Investment Fund (CIF). The
IDF will directly support international credit
union development through WOCCU.

The signing took place at the American
Association of Credit Union Leagues' conference
in Naples, Florida last week in the presence of
NCUF chairman, Chuck Purvis and WOCCU's 1st vice
chairman, Gary Plank.

The newly established fund is a unique
investment
option for those interested in supporting
international credit union development. As with
all CIF investments, interest generated by the
IDF will be split between the investing credit
union, NCUF and the credit union foundation or
league in the state of investment origin; NCUF's
portion of the return will be directed into the
IDF for use by World Council. Many states are
also using their own returns from the CIF to
support international credit union partnerships.

Gary Officer, executive director, NCUF
noted, "I
look at this as a win-win for the Foundation and
World Council. International development wins
because of the new funds generated to support
worthwhile acts around the globe. At the same
time it helps propel the Foundation towards its
$1 billion CIF goal." Officer continued, "I am
thrilled with this partnership and the
opportunity to bring new investors into CIF. It's
also an opportunity for current CIF participants
to increase their level of investment in support
of international development."

Funds raised by the IDF will help educate
credit
union employees and volunteers; conduct
internship programs and exchange visits of
international credit union leaders; build
international credit union partnerships and
provide public education initiatives related to
consumer finance. Funding also will assist with
IRnet (International Remittance Network)
installations of member credit unions outside of
the United States.

Arthur Arnold, WOCCU president and CEO
explained, "Investing in the CIF fund
specifically for international credit union
development allows U.S. credit unions to continue
to support World Council's efforts to provide
quality credit unions for everyone." Arnold
continued, "We look forward to working with NCUF
and U.S. credit unions in raising development
funds."

Credit unions who wish to participate in this
donor-designated fund within the Community
Investment Fund should contact their corporate
credit union to invest in CIF. Credit unions
then must contact Kris Hoffman, NCUF manager of
donor relations, to designate their investment in
the IDF. Click to view form. For more
information on the Community Investment Fund
please contact Kris Hoffman at 608-231-4397 or
khoffman@cuna.coop.Click to view the attached
form.

World Council of Credit Unions is the global trade association and development agency for credit unions. World Council promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. World Council advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions' financial performance and increase their outreach.

World Council has implemented 300+ technical assistance programs in 89 countries. Worldwide, 68,882 credit unions in 109 countries serve 235 million people. Learn more about World Council's impact around the world at www.woccu.org.